A subsidiary ledger is
A) used in place of the general ledger if the general ledger is destroyed or stolen.
B) a group of accounts used by branches and subsidiaries of a corporate business.
C) a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger.
D) used to post excess transactions if a general ledger account becomes full during an accounting period.

Question

Quizplus · Accepted Answer

A subsidiary ledger is a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger. It is used to support the general ledger and provide more detailed information about specific groups of transactions. Option A, B, and D are not accurate descriptions of a subsidiary ledger.

A Subsidiary Ledger Is